The Olive Oil Market size was estimated at USD 12.5 billion in 2023 and is projected to reach USD 25 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.20% during the forecast period (2024-2030).

Olive Oil Market

Market Summary

The global olive oil market is a significant segment within the food and beverages industry, characterized by its deep-rooted historical and cultural importance, particularly in Mediterranean regions. This market encompasses the production, processing, distribution, and sale of various grades of olive oil, which is derived from the fruit of the olive tree. Consumer demand is primarily driven by the growing awareness of its numerous health benefits, including its high content of monounsaturated fats and antioxidants, which are linked to heart health and anti-inflammatory properties. The market is highly influenced by culinary trends, dietary shifts towards healthier eating, and the increasing incorporation of olive oil in diverse cuisines worldwide. Key producing countries dominate the supply chain, but consumption is expanding beyond traditional markets into North America, Asia-Pacific, and Northern Europe. The industry is also seeing a rise in the popularity of premium, extra virgin olive oil, as consumers become more discerning about quality, authenticity, and origin. Sustainability practices, organic farming, and traceability are becoming increasingly important factors for both producers and buyers. The market is competitive, with a mix of large multinational corporations and smaller, artisanal producers vying for market share through branding, quality differentiation, and strategic marketing.

Key Highlights

The olive oil market is distinguished by several key factors that underscore its dynamics and growth potential. The premiumization trend is a major highlight, with consumers increasingly willing to pay higher prices for extra virgin olive oil that boasts specific geographic indications, organic certification, or superior sensory qualities. This shift is supported by growing health consciousness and the perception of high-quality olive oil as a functional food. Another significant aspect is the consolidation and globalization of the supply chain, where major players like Deoleo, through brands such as Bertolli and Carbonell, hold substantial market influence, while numerous small to medium-sized enterprises focus on niche, high-value segments. The market is also responsive to climatic conditions, as olive cultivation is susceptible to weather patterns, pests, and diseases, which can cause volatility in production yields and pricing. Additionally, regulatory frameworks, such as the standards set by the International Olive Council and various national designations like Protected Designation of Origin (PDO), play a crucial role in maintaining quality and preventing fraud. Innovation in packaging, such as dark glass bottles or tin containers to protect against oxidation, and the development of flavored olive oils, are also notable trends enhancing product appeal and shelf life.

Drivers, Opportunities & Restraints

The growth of the olive oil market is propelled by several key drivers. Increasing health awareness among consumers globally is a primary driver, as olive oil is widely recognized for its cardiovascular benefits and role in Mediterranean diets, which are associated with longevity and wellness. The rising disposable incomes in emerging economies enable greater expenditure on premium food products, thereby expanding the consumer base. Furthermore, the versatility of olive oil in culinary applications, from cooking and frying to use in salads and as a finishing oil, boosts its demand across both household and foodservice sectors. Significant opportunities exist in the development of organic and sustainably produced olive oil, catering to the environmentally conscious consumer. There is also potential for market expansion in regions with low per capita consumption, such as Asia-Pacific and Africa, through targeted marketing and education about its benefits. However, the market faces considerable restraints. Price volatility due to fluctuating harvests caused by adverse weather conditions, such as droughts or frost, can lead to supply instability. The high cost of genuine extra virgin olive oil compared to other edible oils may limit its adoption in price-sensitive markets. Additionally, issues related to adulteration and mislabeling pose a threat to consumer trust and brand integrity, requiring stringent quality control and verification processes.

Concentration Insights

The olive oil market exhibits a varied concentration landscape, with production heavily concentrated in the Mediterranean basin. Spain is the world's largest producer and exporter, accounting for a dominant share of global output, followed by Italy, Greece, Turkey, and Tunisia. This geographical concentration makes the market susceptible to regional climatic and political factors that can impact global supply. In terms of competitive concentration, the market is fragmented at the production level with numerous small-scale farmers and cooperatives, but it is more consolidated at the branding and distribution level. A few multinational corporations, such as Deoleo, which owns popular brands like Bertolli and Carbonell, and Grupo SOS (now part of Deoleo), hold significant market power in many import-dependent countries. However, there is a growing segment of artisanal and boutique producers who focus on high-quality, traceable, and single-estate oils, often competing on authenticity rather than price. The retail landscape is also concentrated in the hands of large supermarket chains and hypermarkets in many regions, though specialty stores and online platforms are gaining traction for premium products. This duality between large-scale industrial producers and small, quality-focused entities defines the market's competitive dynamics.

Type Insights

The olive oil market is segmented into different types based on processing methods and quality standards, which significantly influence price, application, and consumer preference. Extra virgin olive oil (EVOO) represents the highest quality grade, obtained from the first cold pressing of olives without the use of heat or chemicals. It has low acidity, superior taste and aroma, and is richest in nutrients, making it ideal for raw consumption in dressings and dips. Virgin olive oil is also derived from cold pressing but has slightly higher acidity and less refined sensory qualities compared to EVOO. Refined olive oil is produced by treating lower quality virgin oils with chemical and physical filters to neutralize strong tastes and high acidity; it is more neutral in flavor and suitable for cooking. Olive pomace oil is extracted from the leftover pulp and pits using solvents and is often blended with virgin oils; it is primarily used for high-heat cooking due to its higher smoke point. There is also a category for lampante oil, which is not fit for consumption and must be refined. The demand for extra virgin olive oil is growing fastest due to health trends, while refined oils hold a significant share in price-sensitive markets and food manufacturing applications.

Application Insights

Olive oil finds diverse applications across various sectors, primarily driven by its culinary uses and health attributes. In the food and beverage industry, it is a staple in cooking, frying, baking, and as a dressing or finishing oil in salads, pasta, and bread. The household segment constitutes a major application area, where consumers use it for daily cooking and as a health-conscious alternative to other fats. The foodservice industry, including restaurants, hotels, and catering services, is another significant application sector, utilizing olive oil for preparing a wide range of dishes, particularly in Mediterranean and gourmet cuisines. Beyond culinary uses, olive oil is increasingly used in the cosmetic and personal care industry due to its moisturizing and antioxidant properties, featuring in products like soaps, lotions, and hair care items. The pharmaceutical industry also utilizes olive oil in dietary supplements and for its therapeutic benefits. Additionally, there is a niche application in religious ceremonies and traditional practices in some cultures. The growth of ready-to-eat and processed food industries has further integrated olive oil as a key ingredient, enhancing flavor and health profiles of products.

Regional Insights

The olive oil market demonstrates distinct regional patterns in terms of production, consumption, and growth potential. Europe, particularly the Mediterranean countries, dominates both production and consumption. Spain, Italy, and Greece are the traditional powerhouses, with extensive olive groves and well-established export networks. These regions have high per capita consumption and a strong cultural affinity for olive oil. North America represents a major importing region with steadily growing demand, driven by health trends, the popularity of Mediterranean diets, and the influence of diverse cuisines. The United States is a key market, with California emerging as a significant domestic producer. In the Asia-Pacific region, consumption is rising from a low base, fueled by urbanization, westernization of diets, and increasing health awareness in countries like China, Japan, and Australia. The Middle East and Africa also show growing demand, particularly in urban areas and among higher-income groups. Latin America, with countries like Argentina and Chile, is both a producer and a growing consumer market. Each region presents unique challenges and opportunities, influenced by dietary habits, economic conditions, and trade policies.

Company Insights

The competitive landscape of the olive oil market includes a mix of large multinational corporations, regional players, and numerous small-scale producers. Deoleo is a global leader, owning some of the world's most recognized brands such as Bertolli, Carbonell, and Carapelli. The company has a strong presence in multiple continents and focuses on a wide range of products from extra virgin to refined oils. Another significant player is Salov Group, known for its Filippo Berio brand, which has a substantial market share in North America and Europe. Grupo Ybarra Alimentaci?n is a prominent Spanish company with a strong domestic and export focus. Beyond these giants, there are many respected regional and family-owned companies, such as California Olive Ranch in the United States, which has gained prominence for its high-quality extra virgin olive oil and sustainable practices. In Greece, companies like Minerva and Gaea are notable for their premium offerings. Many companies are investing in vertical integration, from farming to bottling, to ensure quality control and supply chain efficiency. Branding, certification (like PDO and organic), and marketing about origin and health benefits are key strategies employed to differentiate products in this competitive market.

Recent Developments

The olive oil industry has witnessed several important developments reflecting evolving consumer preferences and market challenges. There has been a significant push towards sustainability and traceability, with many producers adopting organic farming practices, obtaining certifications, and implementing technologies like blockchain to provide consumers with transparent information about the oil's journey from orchard to bottle. In response to climate change impacts on harvests, research into drought-resistant olive varieties and more efficient irrigation techniques has intensified. On the product innovation front, companies are expanding their offerings with infused and flavored olive oils, such as those with garlic, lemon, or chili, to cater to gourmet and experimental cooking trends. Packaging innovations continue, with a focus on materials that better preserve quality and extend shelf life, including argon gas flushing and UV-protective containers. The industry is also grappling with and responding to the issue of adulteration through advanced testing methods and stricter enforcement of labeling regulations. Furthermore, e-commerce and direct-to-consumer sales channels have grown substantially, allowing smaller producers to reach a global audience and consumers to access a wider variety of specialty oils.

Report Segmentation

This comprehensive market research report on the olive oil industry provides a detailed analysis segmented to offer actionable insights for stakeholders. The report is structured by type, categorizing the market into extra virgin olive oil, virgin olive oil, refined olive oil, and olive pomace oil, examining the production, demand, and pricing trends for each grade. It further segments the market by application, covering key areas such as food and beverages (sub-segmented into household, foodservice, and food processing), cosmetics and personal care, pharmaceuticals, and others. The distribution channel segmentation includes analysis across hypermarkets and supermarkets, convenience stores, online retail, and specialty stores, highlighting shifting consumer purchasing behaviors. Geographically, the report provides in-depth coverage of key regions and countries, including North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa, detailing regional production, consumption patterns, trade dynamics, and growth opportunities. This multi-faceted segmentation allows for a granular understanding of market dynamics, competitive landscape, and future prospects across different dimensions, enabling businesses to identify niche opportunities and formulate targeted strategies.

FAQs

What are the different grades of olive oil?

The primary grades are extra virgin olive oil, which is the highest quality from cold pressing with low acidity; virgin olive oil, also from cold pressing but with higher acidity; refined olive oil, which is processed to remove flaws; and olive pomace oil, extracted from the leftover pulp and often blended.

Which country produces the most olive oil?

Spain is consistently the world's largest producer of olive oil, accounting for a significant portion of global production, followed by Italy, Greece, Turkey, and Tunisia.

What is extra virgin olive oil best used for?

Extra virgin olive oil is best used unheated in applications where its delicate flavor and aroma can be appreciated, such as in salad dressings, dips, drizzling over finished dishes, or with bread. Heating can degrade its quality.

How can you tell if olive oil is real?

Genuine olive oil, especially extra virgin, should have a distinct fruity, peppery, or bitter taste. Checking for certifications like PDO, harvesting date on the label, and buying from reputable brands or sources are key indicators. Laboratory tests are the only definitive method to detect adulteration.

What is the difference between olive oil and extra virgin?

The term "olive oil" on a label typically refers to a blend of refined and virgin oils, which is more processed and has a neutral flavor. Extra virgin is unrefined, from the first cold pressing, with superior flavor, aroma, and nutritional content, and must meet strict chemical and sensory standards.

Citius Research has developed a research report titled “Olive Oil Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” delivering key insights regarding business intelligence and providing concrete business strategies to clients in the form of a detailed syndicated report. The report details out the factors such as business environment, industry trend, growth opportunities, competition, pricing, global and regional market analysis, and other market related factors.

Details included in the report for the years 2024 through 2030

• Olive Oil Market Potential
• Segment-wise breakup
• Compounded annual growth rate (CAGR) for the next 6 years
• Key customers and their preferences
• Market share of major players and their competitive strength
• Existing competition in the market
• Price trend analysis
• Key trend analysis
• Market entry strategies
• Market opportunity insights

The report focuses on the drivers, restraints, opportunities, and challenges in the market based on various factors geographically. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. The Olive Oil Market report is segmented on the basis of various market segments and their analysis, both in terms of value and volume, for each region for the period under consideration.

Olive Oil Market Segmentation

Regions Covered

• North America
• Latin America
• Europe
• MENA
• Asia Pacific
• Sub-Saharan Africa and
• Australasia

Olive Oil Market Analysis

The report covers below mentioned analysis, but is not limited to:

• Overview of Olive Oil Market
• Research Methodology
• Executive Summary
• Market Dynamics of Olive Oil Market
  • Driving Factors
  • Restraints
  • Opportunities
• Global Market Status and Forecast by Segment A
• Global Market Status and Forecast by Segment B
• Global Market Status and Forecast by Segment C
• Global Market Status and Forecast by Regions
• Upstream and Downstream Market Analysis of Olive Oil Market
• Cost and Gross Margin Analysis of Olive Oil Market
• Olive Oil Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030
  • Competition Landscape
  • Market Share of Major Players
• Key Recommendations

The “Olive Oil Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” report helps the clients to take business decisions and to understand strategies of major players in the industry. The report delivers the market driven results supported by a mix of primary and secondary research. The report provides the results triangulated through authentic sources and upon conducting thorough primary interviews with the industry experts. The report includes the results on the areas where the client can focus and create point of parity and develop a competitive edge, based on real-time data results.

Olive Oil Market Key Stakeholders

Below are the key stakeholders for the Olive Oil Market:

• Manufacturers
• Distributors/Traders/Wholesalers
• Material/Component Manufacturers
• Industry Associations
• Downstream vendors

Olive Oil Market Report Scope

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the Olive Oil Market worldwide. This report discusses in detail the disruptions experienced by the market, the impact on flow of raw materials, manufacturing operations, production trends, consumer demand and the projected future of this market post pandemic.

The report has helped our clients:

• To describe and forecast the Olive Oil Market size, on the basis of various segmentations and geography, in terms of value and volume
• To measure the changing needs of customers/industries
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To gain competitive intelligence and uncover new opportunities
• To analyse opportunities in the market for stakeholders by identifying high-growth segments in Olive Oil Market
• To strategically profile key players and provide details of the current competitive landscape
• To analyse strategic approaches adopted by players in the market, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

Report Customization

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